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December 16, 2021
Endeavour Silver Reports Positive Drill Results for the Parral Project
(All amounts are in US dollars, unless otherwise stated)
VANCOUVER, British Columbia, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) is pleased to report positive drill results from its ongoing exploration program at the 3,432-hectare Parral project situated in the State of Chihuahua, Mexico.
During the last 11 months, until the end of November, the Company has drilled over 14,000 metres in 59 holes targeting several areas along the La Colorada vein.
Highlights from Recent Drill Results
- 2,846 gpt Ag, 0.65% Cu over a 0.89 m ETW, including 3,380 gpt Ag, 0.77% Cu over 0.75 m (VCS-10)
- 840 gpt Ag, 0.11 gpt Au, 0.25% Cu, 9.09% Pb and 4.74% Zn for 1,288 gpt AgEq over a 2.77 m ETW, including 1,585 gpt Ag, 0.26 gpt Au, 0.55% Cu, 34.88% Pb and 4.38% Zn for 2,755 gpt AgEq over 0.36 m (VCU-38)
- 708 gpt Ag, 0.55 gpt Au, 0.16% Cu, 10.95% Pb and 12.38% Zn for 1,504 gpt AgEq over a 1.23 m ETW, including 1,130 gpt Ag, 0.91 gpt Au, 18.95% Pb and 18.70% Zn for 2,406 gpt AgEq over 0.69 m (VCU-50)
Abbreviations include: gpt: grams per tonne; Au: gold; Ag: silver; Cu: copper; Pb: lead; Zn: zinc; ETW: estimated true width; m: metre; HW: hanging wall. Silver equivalents are calculated at a ratio of 80:1 silver:gold, silver price of $23 per troy ounce, copper price of $3.45 per pound, lead price of $0.90 per pound and zinc price of $1.20 per pound.
“The Parral project continues to deliver great results,” commented Dan Dickson, Chief Executive Officer. “Following limited drilling in 2020 due to the pandemic, it was a priority for our exploration team to re-start the exploration program at Parral this year to expand on the mineral resource estimate we published on the project in early 2020. Our goal is to continue the drill program at Parral in 2022 as we get closer to achieving the scale required to support a positive economic assessment.”
The Parral project, which was acquired by Endeavour Silver in 2016, is in Hidalgo de Parral, a large historic silver mining district adjacent to the city of Parral, in the State of Chihuahua, Mexico. The project district comprises classic, high-grade silver, epithermal vein deposits, characterized by low-sulphidation mineralization. The property is accessible by paved and gravel roads and has access to the local power grid.
The Veta Colorada (including the Sierra Plata and El Verde mines) was a past producing mining operation owned by Grupo Mexico that closed in 1991 due to low silver prices. Mineralization, which occurs in a major silver vein structure that ranges from 1 to 30 metres thick, was mined seven levels down to 300-metre depths below surface in places and was traced for seven kilometres.
The Company filed a NI 43-101 technical report on the Parral project, State of Chihuahua, Mexico on March 14, 2020. As of December 31, 2019, Parral had estimated indicated mineral resources of 613,000 tonnes, containing 4.0 million ounces of silver grading 207 g/t, 6,800 ounces of gold grading 0.35 g/t, 17.5 million pounds of lead grading 0.63%, and 16.5 million pounds of zinc grading 0.61%. Inferred mineral resources are estimated to total 4.04 million tonnes containing 35.0 million ounces of silver grading 269 g/t, 62,800 ounces of gold grading 0.48 g/t, 65.0 million pounds of lead grading 0.35%, and 64.3 million pounds of zinc grading 0.35%.
Due to the COVID-19 pandemic, the Company suspended the Parral drill programs in early 2020 and resumed drilling in 2021.
The Parral drill results are summarized in the following tables:
Parral - Veta Colorada Sierra Plata Shallow
Hole Structure From True Width Au Ag Cu Pb Zn AgEq (m) (m) (gpt) (gpt) (%) (%) (%) (gpt) VCS-07 Veta Colorada 264.25 2.19 0.01 232 0.01 0.08 0.15 241 Including 265.80 0.72 <0.005 288 0.02 0.08 0.08 296 VCS-10 Veta Colorada 219.35 0.89 0.01 2,846 0.65 0.00 0.01 2,914 Including 219.50 0.75 0.01 3,380 0.77 0.00 0.01 3,461 VCS-12 Veta Colorada 196.75 1.20 0.01 340 0.04 0.32 0.60 374 Including 196.75 0.86 0.01 384 0.04 0.36 0.65 422 Note: Drill holes VCS-8, VCS-9, VCS-11, VCS 13, VCS-29, VCS-30, VCS-31 and VCS-32 returned no significant results
Parral - Veta Colorada San Joaquin (view Veta Colorada (San Joaquin) longitudinal sections )
Hole Structure From True Width Au Ag Cu Pb Zn AgEq (m) (m) (gpt) (gpt) (%) (%) (%) (gpt) VCS-18 Veta Colorada 164.10 1.89 2.27 92 0.02 3.35 1.90 434 Including 164.10 0.70 5.79 193 0.01 0.05 0.14 663 VCS-19 Veta Colorada 173.65 1.30 1.05 470 0.18 4.51 9.95 1,050 Including 174.20 0.81 1.51 744 0.24 5.72 9.15 1,370 VCS-20 Veta Colorada 230.85 2.76 0.98 59 0.14 2.72 2.75 322 Including 231.85 0.62 3.83 91 0.27 6.90 1.81 675 VCS-21 Veta Colorada 186.00 1.47 0.28 28 0.22 2.87 1.71 211 Including 187.40 0.33 0.75 91 0.84 10.35 3.06 624 VCS-24 Veta Colorada 254.20 3.95 1.38 41 0.19 2.20 2.83 332 Including 257.25 0.68 1.69 116 0.22 7.05 4.82 635 VCS-25 Veta Colorada 262.85 1.60 0.22 50 0.14 3.02 6.53 396 Including 263.45 0.31 0.27 105 0.23 6.34 17.30 939 VCS-26 Veta Colorada 313.15 1.11 0.14 15 0.02 2.07 2.19 163 Including 313.65 0.37 0.22 38 0.05 5.63 5.22 399 VCS-27 Veta Colorada 325.65 1.40 1.43 54 0.20 1.78 4.87 411 Including 326.20 0.59 2.12 43 0.20 1.86 5.69 486 VCS-28 Veta Colorada 244.50 4.24 0.27 29 0.09 3.08 3.47 266 Including 244.50 0.39 0.18 97 0.24 7.12 5.42 521 Note: Drill holes VCS-15, VCS-16, VCS-17, VCS-22 and VCS-23 returned no significant results
Parral - Veta Colorada Sierra Plata Deep (view Veta Colorada (Sierra Plata) longitudinal sections )
Hole Structure From True Width Au Ag Cu Pb Zn AgEq (m) (m) (gpt) (gpt) (%) (%) (%) (gpt) VCU-21 Veta Colorada 66.50 1.41 0.03 198 0.03 0.60 0.76 247 Including 67.20 0.73 0.04 288 0.05 0.89 1.39 370 VCU-22 Veta Colorada 88.50 0.93 0.01 247 0.05 0.53 0.97 302 Including 88.95 0.46 0.02 436 0.09 0.82 1.66 528 VCU-24 Veta Colorada 85.15 2.00 0.01 263 0.02 0.56 0.25 290 Including 85.55 0.39 0.01 340 0.02 0.15 0.22 355 VCU-25 Veta Colorada 103.80 1.13 0.02 176 0.02 0.22 0.24 193 Including 105.00 0.38 0.03 220 0.02 0.19 0.35 241 VCU-26 Veta Colorada 107.30 0.93 0.02 169 0.01 0.18 0.10 180 VCU-27 Hw Veta Colorada 146.15 1.12 0.01 164 0.00 0.06 0.20 173 Including 146.15 0.33 <0.005 189 0.00 0.05 0.15 196 VCU-28 Veta Colorada 95.60 0.88 0.01 196 0.01 0.22 0.24 213 Including 96.10 0.22 0.02 257 0.01 0.35 0.30 280 VCU-30 Veta Colorada 172.00 1.81 0.06 263 0.03 0.61 2.02 360 Including 176.10 0.26 0.32 425 0.12 0.24 10.20 834 VCU-31 Veta Colorada 160.50 1.13 0.06 224 0.02 0.27 0.27 248 Including 161.45 0.30 0.05 365 0.04 0.27 0.46 397 VCU-32 Veta Colorada 156.20 1.08 0.02 247 0.03 0.19 0.32 269 Including 156.80 0.52 0.02 294 0.04 0.22 0.27 315 VCU-33 Veta Colorada 206.30 0.73 0.03 166 0.02 0.39 0.16 186 VCU-35 Veta Colorada 196.00 1.47 0.03 266 0.15 1.65 2.82 429 Including 196.70 0.44 0.03 381 0.22 1.08 2.63 529 VCU-47 Veta Colorada 111.80 1.76 0.02 158 0.03 1.33 0.70 224 Including 111.80 0.56 0.02 284 0.08 3.86 1.84 464 VCU-48 Veta Colorada 161.35 5.77 0.04 417 0.04 1.41 0.46 478 Including 163.65 0.27 0.13 4,170 0.32 16.55 1.24 4,702 VCU-49 Veta Colorada 178.65 2.48 0.13 761 0.15 0.17 5.37 984 Including 179.75 0.25 0.10 1,115 0.29 0.00 6.94 1,401 VCU-50 Veta Colorada 100.30 1.23 0.55 708 0.16 10.95 12.38 1,504 Including 100.30 0.69 0.91 1,130 0.25 18.95 18.70 2,406 VCU-53 Veta Colorada 85.20 1.17 0.01 178 0.01 0.24 0.11 190 Including 85.20 0.54 0.01 223 0.01 0.31 0.12 237 VCU-55 Hw Veta Colorada 83.45 1.2 0.02 164 0.06 0.47 1.04 221 Including 83.45 0.3 0.01 290 0.13 0.80 0.68 350 Veta Colorada 96.50 1.2 0.03 84 0.02 0.66 1.25 151 Including 97.00 0.3 0.04 146 0.03 1.29 2.48 275 VCU-57 Veta Colorada 170.90 1.0 0.02 139 0.03 1.52 1.46 237 Including 172.50 0.3 0.03 212 0.04 1.76 3.30 384 Note: Drill holes VCU-23, VCU-29, VCU-34, VCU-44, VCU-45, VCU-46, VCU-51, VCU-52, VCU-54 and VCU-56 returned no significant results
Parral - Veta Colorada El Verde (view Veta Colorada (El Verde) longitudinal sections )
Hole Structure From True Width Au Ag Cu Pb Zn AgEq (m) (m) (gpt) (gpt) (%) (%) (%) (gpt) VCU-36 Hw Veta Colorada 100.75 2.30 0.09 182 0.08 3.17 2.84 384 Including 102.55 0.56 0.13 224 0.09 4.04 2.15 428 Veta Colorada 106.90 3.64 1.52 253 0.11 3.87 2.39 575 Including 111.45 0.26 0.88 953 0.38 1.96 1.64 1,173 VCU-37 Hw Veta Colorada 128.70 3.31 0.20 198 0.06 2.54 2.57 381 Including 131.35 0.42 0.52 319 0.07 10.35 8.52 950 Veta Colorada 135.65 1.61 0.20 201 0.02 0.99 2.58 339 Including 136.75 0.42 0.31 346 0.05 1.47 6.69 654 VCU-38 Hw Veta Colorada 238.15 1.75 0.05 204 0.07 0.78 1.17 278 Including 240.00 0.33 0.08 541 0.20 0.81 2.16 667 Veta Colorada 245.25 2.77 0.11 840 0.25 9.09 4.74 1,288 Including 247.00 0.36 0.26 1,585 0.55 34.88 4.38 2,755 VCU-40 Veta Colorada 236.55 3.70 0.25 321 0.14 4.93 4.46 648 Including 238.80 0.46 0.20 1,030 0.44 7.03 7.43 1,546 VCU-41 Veta Colorada 198.60 6.38 0.08 325 0.28 0.78 2.42 467 Including 205.50 0.44 0.13 702 0.40 0.66 2.98 878 VCU-43 Hw Veta Colorada 163.65 1.60 0.16 240 0.05 0.26 0.48 281 Including 163.65 0.52 0.02 380 0.02 0.09 0.15 391 Veta Colorada 166.50 2.36 0.05 251 0.03 0.28 0.48 284 Including 168.50 0.54 0.07 606 0.03 0.45 0.43 643 Notes:
1. Drill holes VCU-39 and VCU-42 returned no significant results
2. Silver equivalents are calculated using the formula:
[Au (gpt) X 80] + Ag (gpt) + [Cu (%) X 2204.6 X Cu Price / Ag Price X 31.1] + [Pb (%) X 2204.6 X Pb Price / Ag Price X 31.1] + [Zn (%) X 2204.6 X Zn Price / Ag Price X 31.1]
3. Price assumptions used are: Cu $3.45, Pb $0.90, Zn $1.20 and Ag $23.00
4. All widths are estimated true widths
5. No capping has been applied but high-grade intervals have been highlighted
Qualified Person and QA/QC - Dale Mah, P.Geo., Vice President Corporate Development of Endeavour Silver, is the Qualified Person who reviewed and approved the technical information contained in this news release. A quality control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples are split at the local field office and shipped to SGS Labs, where they are dried, crushed, split and 250 gram pulp samples are prepared for analysis. Gold is determined by fire assay with an atomic absorption finish and silver by aqua regia digestion with ICP finish, over-limits by fire assay and gravimetric finish.
About Endeavour Silver – Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. The Company’s philosophy of corporate social integrity creates value for all stakeholders.
SOURCE Endeavour Silver Corp.
Contact Information
Trish Moran
Interim Head of Investor Relations
Tel: (416) 564-4290
Email: moc.revlisrde@naromp
Website: www.edrsilver.comFollow Endeavour Silver on Facebook , Twitter , Instagram and LinkedIn
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding future prospects of the Company’s mines and projects. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development and risks in obtaining necessary licenses and permits,
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued exploration and mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
